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Jun 30, 2023
Allbirds Q2 2023 Earnings Report
Exceeded Q2 2023 guidance targets and delivered continued progress under the company’s strategic transformation plan.
Key Takeaways
Allbirds reported a 9.8% decrease in net revenue to $70.5 million compared to the previous year, but showed a 3.8% increase compared to Q2 2021. The company experienced a net loss of $28.9 million, or $.19 per share. However, it significantly reduced operating cash use and generated positive operating cash flow of $0.8 million. Gross margin increased to 42.8% compared to 36.1% in the second quarter of 2022.
Net revenue decreased 9.8% to $70.5 million versus a year ago and increased 3.8% compared to Q2 2021
Gross profit totaled $30.1 million compared to $28.2 million in the second quarter of 2022, and gross margin increased to 42.8% compared to 36.1% in the second quarter of 2022.
Ending inventory decreased 24% versus a year ago and represented the lowest level since Q2 2021
Generated positive operating cash flow of $0.8 million compared to negative operating cash flow of $24.1 million a year ago.
Revenue by Geographic Location
Forward Guidance
Allbirds is providing financial guidance for the third quarter of 2023, reflecting ongoing work under the Company’s strategic transformation plan.
Positive Outlook
- Net revenue of $56 million to $61 million
Challenges Ahead
- Net revenue decrease of 23% to 16% versus the third quarter of fiscal 2022.
- Adjusted EBITDA loss of $23 million to $20 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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